Joseph is considering acquiring a couple of Ford bonds, which were initially offered with a face value of $1000, a coupon rate of 12% per year (paid semiannually), and a maturity of 7 years. However, these bonds already paid 2 coupons and Joseph is planning to buy them now, right before the next coupon payment (hence coupon received at Joseph 's time zero). Find the pure price of each Ford bond if the current market interest rate for similar financial assets is 9% per year (compounded semiannually).